North America

A proposal document released on Monday showed that the European Union had proposed to extend its sanctions against Russia?to include ports located in Georgia and Indonesia which handle Russian oil. This would be the first time for the bloc to target ports in a third country. The EU proposal was reviewed by and would add Kulevi, in Georgia, and Karimun, in Indonesia, to the list of sanctions, barring EU individuals and companies from transacting with either port. These measures are part of 'EU's 20th package of sanctions over Russia's conflict in Ukraine. The package, which was jointly drafted and presented...

Renault announced on 'Friday that it would appeal the decision of a German court which ruled in favour of the United States. In a dispute over patent rights, Broadcom has requested that Renault stop selling two of its best-selling cars. A regional court in Munich ruled that Renault did not have the right to use certain Ethernet network cable connections on its Clio and Megane models. Renault said in a press release that it would file an appeal without delay. Broadcom?added the fact that the?injunction against sales in Germany would only be effective after certain conditions are met. Renault also...

The German business magazine WirtschaftsWoche reported that a German court ordered French 'carmaker Renault to stop the sale of its 'Megane and Clio models due to a dispute with U.S. tech group Broadcom over patent rights. According to the magazine, the regional court of Munich found that Renault did not have a 'license' for certain ethernet cable connections on 'the two models. The court in Munich did not respond immediately to a comment request. Renault was not available for a comment immediately. The WirtschaftsWoche?also stated that the ruling would not be enforced until a deposit of "several millions" of Euros...

In response to a chronic shortage of air traffic controllers in the United States, the Office of Inspector General of U.S. 'Transportation Department announced on Thursday that it would open a?a??probe into high failure rate among air traffic control training trainees. The Trump administration has promised to act to combat a chronic shortage of air traffic control personnel. About 3,500 air traffic control positions are not filled by the FAA. The FAA's air-traffic control training academy is facing serious problems. Many of its trainees are working six-day work weeks and mandatory overtime. Inspector General said that "attrition, retirements and 'program...

Three Democratic U.S. Senators asked Thursday the Transportation Department if the head the Federal 'Aviation Administration had sold 'his -shares in Republic Airways, and if he would be forced to forfeit any gains resulting from not selling before a divestment deadline. Bryan Bedford, FAA Administrator, said in 'December that he had not sold his shares of Republic. However he would continue to recuse him from any issues which could affect the airline's finances while he worked to sell his holdings. Senator Maria Cantwell claimed that Bedford, the former CEO of Republic Airlines, violated his ethics agreement because he hadn't completed...

The Financial Times reported that two Canadian pension funds plan to sell their stakes at Associated British Ports (ABP). They hope the deal will value the UK's largest ports operator for more than 10 billion pounds ($13.63billion). The newspaper reported that Morgan Stanley was hired by the Canada Pension Plan Investment Board, which owns?34%, and Ontario Municipal Employees 'Retirement System, which owns?33% of ABP to?explore a possible sale of their stakes. The report also said that Hermes Asset Management, which owns 6% of a group, could sell its stake. Could not confirm immediately the report. ABP, CPPIB, and OMERS didn't...

The companies announced on Wednesday that Union Pacific, a railroad operator, and Wabtec - a locomotive parts manufacturer - had signed a $1.2 billion agreement to modernize the AC4400 locomotives of the railway. The companies describe the agreement as "the largest locomotive investment in rail history." It is expected to begin deliveries by 2027. U.S. rail fleet replacement has been accelerated under the Biden administration, with infrastructure investments. Operators are replacing aging locomotives by more fuel-efficient and digitally enabled models. According to the companies, the fleet upgrade will reduce fuel consumption by more than 5% and increase locomotives' tractive efforts...

Skyryse, a U.S. aviation tech company, announced on Tuesday that it had raised $300 million as part of a funding round?that valued the company at $1.15billion. The series C 'round was led by Autopilot Ventures & Fidelity Management & Research Company. ArrowMark Partners, Qatar Investment Authority and others also participated. Investors are increasingly interested in autonomous flight systems that reduce pilot workload, operational costs and improve safety. This is expected to increase demand for these technologies. Founded in 2016, Skyryse provides software-and-hardware aviation solutions and has developed ?SkyOS, a flight system that replaces conventional mechanical controls with a simplified interface...

After an incident that occurred?on?Tuesday, in which Iranian gunboats approached U.S. flagged tankers in the strategic waterway to the north of Oman, it has been brought back into focus. The U.S. Military also announced on Tuesday that it had shot down a?drone? from Iran which "aggressively approached" its Abraham Lincoln aircraft carriers in the Arabian Sea. This is the most visible part in a U.S. buildup of military forces in the Middle East. Analysts have said for years that an escalation of tension in the region may lead Tehran to try to close the strait, or target the tankers. Here...

Hong Kong-based CK Hutchison announced on Wednesday that its Panama Ports Company division has initiated international arbitration proceedings against Panama, after a Panamanian court annulled the company's licences to run two?Panama Canal port. Panama's Supreme Court canceled last week CK Hutchison’s contract to run two Panama Canal Ports at the core of a $23 billion deal?to sale the Hong Kong conglomerate’s global port assets. Court said that the contract of Panama Ports Company, a subsidiary of CK Hutchison, violated 'Panama’s 'constitution because it gave the company exclusive tax exemptions and privileges. Analysts said that it is difficult to predict how...

China warned Panama that it would pay "heavy" prices if a court decision in Panama annulled the contract of Hong Kong's CK Hutchison to operate?two port at the Panama Canal. China's Hong Kong & Macau?Affairs Office branded the ruling of Panama's Supreme Court as "absurd", "shameful, and pathetic" and vowed that it would defend the interests Chinese firms. The Panamanian authorities didn't immediately respond to our request for comment. The court's ruling last week invalidated a contract held by Panama Ports Company (a CK Hutchison subordinate) since the 1990s to operate container terminals on the Pacific and Atlantic entrances of...

Shipping data shows that Venezuelan oil exports increased to 800,000 barrels a day (bpd), from 498,000 in December. This was after the U.S. captured Nicolas Maduro, and the end of a blockade on oil, which allowed traders to carry the majority of exports. Washington imposed a crude oil embargo against the U.S. sanctioned country to put pressure on Maduro in December and seized 7 tankers. The blockade caused the accumulation of 40 million barrels crude oil and fuel in tanks and vessels onshore that couldn't be exported, forcing Venezuela's state energy company PDVSA (the Venezuelan government-owned energy company) to reduce...

CPC Blend crude, for February loading, is trading at the biggest discount to Brent since late 2022, as buyers are holding back following a'months-long period of export disruptions including field outages and bad weather, and Ukrainian drone strikes, according to four traders. The main route of export for Kazakh oil via the Caspian Pipeline Consortium has been interrupted repeatedly, leading to large cancellations. The traders reported that several February-loading CPC blend cargoes were sold at Brent minus $5 per barrel. The traders added that the discount had narrowed this week due to a new demand for more attractive prices. The...

Bloomberg News, citing executives from PJM Interconnection who spoke at a meeting, reported that the U.S. grid operators warned of a 'potential shortfall in power supply of up to 60 gigawatts if demand for data centers continues to rise. They said that unless unprecedented action is taken to help support the construction of new power plants, a shortfall will occur. The tens and tens of Gigawatts that PJM is waiting to connect are largely data centers needed by Big Tech for its artificial intelligence expansion. The grid operator announced last month a framework for handling the massive energy-consuming projects just...

Williams Companies has been exploring the possibility of buying natural gas production in the United States. This is a rare move for an energy infrastructure provider, but it's a way to ensure natural gas supplies to support the one-stop shop offering that the company offers to data center and hyperscaler clients. Three people familiar with the matter said that Williams Companies, based in Oklahoma, has been positioning itself to be a leader when it comes to providing energy for companies developing artificial intelligence infrastructure. Williams is looking for upstream assets to allow it to position itself as an energy partner...

Uber was ordered to pay $8.5m by an American jury on Thursday after it found the company liable for a lawsuit filed by a woman alleging that she was sexually assaulted by a driver at age 19. This verdict could have a significant impact on thousands of other cases brought against Uber. Jaylynn Dean brought the?case. It was the first bellwether trial of over 3,000 similar lawsuits filed against Uber in U.S. Federal court. Bellwether trials test legal theories, and can help determine the value of claims in order to reach a settlement. In federal court in Phoenix Arizona, the...

Uber was ordered to pay $8.5 million by a federal jury in Phoenix on Thursday after it found the company liable in a lawsuit brought by a woman alleging she had been sexually assaulted. This verdict could have a significant impact on thousands of similar cases filed against Uber. The case was brought by Jaylynn Dean and it was the first trial of over 3,000 similar lawsuits filed against Uber in U.S. Federal court. Bellwether trials test legal theories, and can help determine the value of claims in order to reach a settlement. Dean, a?resident of Oklahoma, filed a lawsuit...

The captain of the 'container ship' that collided with a U.S. oil tanker off Britain's east cost last year, was?jailed?for 6 years for gross negligence in causing death to a crewmember. Vladimir Motin was the captain of the Portuguese flagged Solong, when the tanker?Stena Immaculate,' was anchored with just over 220,000 gallons?of aviation fuel. This happened on March 10, 2025. The collision caused a fire on both vessels and the death of Mark Pernia (38), a Filipino national and member of the 'Solong crew. His body has never been located. James Leonard, Motin’s lawyer, said that Motin tried unsuccessfully to...

A?U.S. A judge will hear the emergency request of?New York?and?New Jersey?to force the restoration funding for the $16 Billion Hudson River Tunnel before the construction stops on Friday. The states filed a lawsuit late Tuesday and asked for a temporary injunction that would prevent the U.S. Transportation Department (USTD) from withholding funds for the rail project between New York City and New Jersey, approved under the presidency of Joe Biden. The lawsuit was filed by New York Attorney General Letitia James, and Acting New Jersey attorney general Jennifer Davenport. They claim that there is overwhelming proof that USDOT suspended funding...

Siemens Energy will invest $1 billion in the U.S. to expand power grid production and to produce?gas turbine components as it builds data centres to power AI technology. The biggest technology companies in the world are pouring hundreds billions of dollars into U.S. Data Centres that will require more power than can be provided by an aging electrical system. Government reports say that data centres could account for 12% of the U.S. grid's capacity in just two years. This is nearly three times as much as 2024. Siemens Energy CEO Christian Bruch said that the U.S. was the largest market...

On Monday, U.S. president Donald Trump announced that he had reached a deal with Indian prime minister Narendra Modi. The agreement included a stop to the purchase of Russian oil by India. The U.S. is trying to limit Russia's oil revenues to make it more difficult for Moscow to finance the?war? in Ukraine. Here are some important facts about the oil trade between Russia and India. OIL PURCHASES After the outbreak of the Ukraine war in February 2022, India became the largest buyer of Russian oil by sea. After some Indian refiners halted imports in November under pressure from sanctions,...

EIG Global Energy Partners hired PJT Partners as an advisor on how to structure a 'new fund' for its stake in Saudi Aramco oil pipeline assets, as the vehicle that holds it is nearing expiry. Sources said that the so-called continuation funds would allow U.S. infrastructure investors to keep the Aramco stake they bought in 2021 for a longer period of time and bring in new investors. EIG, PJT Partner?and Aramco didn't immediately respond to a comment request. A continuation fund allows a company to continue ownership of an asset after the fund's initial?lifecycle. Firms can sell assets when funds...

ESAB Corp, a?Canadian testing instrument manufacturer?, announced on?Monday that it will acquire Eddyfi Technologies? for $1.45 Billion. The company hopes to expand its product range and gain access to booming industries such as aerospace and defence. In a statement, ESAB CEO Shyam kambeyanda stated that the?combination would also help expand the company's global presence and increase its exposure to "high growth end?markets", including nuclear, civil infrastructure, energy, and civil. North Bethesda-based ESAB announced that the deal would be financed with a 'combination of debt, cash and $318,000,000 of fully committed equity. Eddyfi provides advanced sensing, remote monitoring, robotics, and software...

Officials said that Saturday, parts of Ukraine and Moldova - including the capitals of both countries - were plunged into a blackout due to a "malfunction" of high voltage power lines. Later in the day, power was restored. The accident was not linked directly to war damages, but Ukraine's electricity grid suffered as a result of the cumulative impact of Russian airstrikes. This led to severe restrictions in the supply of electricity over the past few weeks. Volodymyr Zelenskiy, the president of Ukraine, blamed ice accumulation on power lines for a cyberattack and dismissed it. In his video nightly address,...